Startups, The Winners and The Losers

December 10th, 2007 at 12:00 am
 


ying yang

Last week there was a disturbing day the was a reminder of the dot com bubble burst. It was unusual then that three startups would announce their closing and going-out-of-business messages and with the number of acquired fundings, the market last Friday seemed bleak. I’m starting off this week with the same emotion. Sad to say (again) two startups went down today.

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TechCrunch reports:

"If it was a bad idea the first time around, it’s probably a bad idea the second time around too. Mike was harsh on AGLOCO, a variation of the failed AllAdvantage pyramid scheme from a few years ago, when he wrote about their launch. He was right to question the business – they’re closing down. "

From CNN:

"DALLAS (AP) — Consumer electronics retailer CompUSA said Friday it will close its stores after the holidays following sale of the company to an affiliate of Gordon Brothers Group, a restructuring firm."

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Well, CompUSA isn’t per se Web2.0 stuff but hey, they sold us the gadgets we loved.

On the bright side, This Monday has an exceptional number of fundings to report. Now it makes me wonder, is Christmas time good or bad for businesses? It’s probably best for those shutting down at least they get to ride the Christmas shopping season and dispose of theri remaining inventory. Oh well, that’s business.

Here are today’s acquisitions from PEHub .

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MixerCast (fka NanoCast Labs) has called down $4.25 million of a $5.57 million Series B round, according to a regulatory filing. Intel Capital was joined by return backer ComVentures.

Music Intelligence Solutions Inc. (fka Uplaya), a San Francisco-based provider of digital music and media discovery, has raised $7 million. No investor information was disclosed.

LogiXML Inc., a McLean, Va.-based provider of Web-based reporting and analysis products for the enterprise, has raised $5 million from Updata Partners.

Adknowledge, a Kansas City-based provider of behavioral online advertising solutions, has acquired Cubics, an online advertising network created to focus on the Facebook developer community. No financial terms were disclosed. Adknowledge raised $48 million in funding last year from Technology Crossover Ventures.

EdgeCast Networks, a Los Angeles-based rich media content delivery network, has raised $6 million in Series B funding. Steamboat Ventures led the round, and was joined by Series A backers like ConemaNow chairman Mark Amin and Lionsgate Films CEO Jon Feltheimer.

Short-hand blog company Twitter disclosed in a regulatory filing that it has raised $4.8 million of a $5.4 million Series B round.

The Red Room, has raised $1.25 million from angel investors, including Craig Newmark, author Rober Mailer Anderson and Nion McEvoy, CEO of Chronicle Books. With a small army of authors already supporting The Red Room, its social network looks to be going in the direction of a promotional hub for writers.